Driving Mobile Money Usage

Driving Customer Usage of Mobile Money for the Unbanked
Authors: Neil Davidson and M. Yasmina McCarty

2
Table of Contents

Introduction 2
The Customer Journey 3

Marketing Airtime vs. Marketing Mobile Money 4
Market Analysis 5
Competitive Landscaping 5
Identifying Relevant Competitors 5
Understanding the Competition 5
Segmentation 7
Why Segmentation Matters 7
Identifying Segments 8
Understanding Segments 9
Target Market Selection and Positioning 10
Target Market Selection 10
Positioning 13
Marketing Communications 14
Building Awareness and Understanding 14
Advertising 14
Educating and Activating Customers 19
Transactional Agents 20
Field Agents 21
Friends and Family 23
Encouraging Regular Use 24
Promotions 25
SMS 26
Budget and Effectiveness 27
Establishing a Budget 27
Measuring Effectiveness 28
Supplement: Diagnosing Customer Activation Issues 29
1
Introduction
At the time of this article’s publication, there are 95  Customers don’t trust the operator’s brand or
mobile money platforms around the world.1 What network and are hesitant to conduct financial
began as a novel offering from a handful of pioneering services on the platform
mobile network operators has become a mainstream
service offering for operators in developing markets. This document highlights the key challenges that
operators have faced when it comes to customer
While the number of mobile money deployments activation for mobile money and identifies marketing
has experienced explosive growth, the number of tactics that have been effective in overcoming them.
active mobile money users has not grown on the
same trajectory. Indeed, there have been widely As a starting point, we first consider the customer
varying levels of customer activation among mobile journey for mobile money, emphasizing that moving
money deployments, with some platforms enjoying the consumer from awareness to regular use requires
widespread customer interest and others struggling different marketing interventions at each step in the
to scale. Operators have encountered significant journey. We then consider mobile money in its context,
challenges in customer activation, such as: looking closely at the market situation to determine
how to identify the best target market for mobile
 Customers are aware of the mobile money service, money services. Finally, we conclude with a detailed
but do not understand how it could be beneficial look at above-the-line marketing communications
to them that are best suited to help customers understand the
benefit(s) of using mobile money and the below-the-
 Customers get bogged down in the registration
line marketing tactics that motivate consumers to try
process and never try the product
the product and become regular users.
 Customers don’t understand the mechanics of
performing transactions and are apprehensive to The following diagram provides a visual overview to
try something so novel as mobile money the steps involved in marketing mobile money and
serves as a visual guide to the contents of the article.
Market Analysis
Target market selection
Competitive landscaping Segmentation
and positioning
Marketing Communications
Transactional agents
Promotions
Advertising Field agents
SMS
Friends and family
Customer Journey
Unaware Awareness Understanding Knowledge Trial Regular Use
Effective marketing, the subject of this article, is technology platform. As such, we conclude this
necessary for a mobile money service to reach scale. article with a diagnostic tool that is designed to help
But low levels of customer activation can also be operators home in on the root cause(s) of low rates
attributed to problems in other parts of the mobile customer activation in their market.
money programme, from the agent network to the
2 1
The GSMA Mobile Money Deployment Tracker, available at http://www.wirelessintelligence.com/mobile-money/.
The Customer Journey
The objective of any operator’s marketing programme change. To drive customer usage, operators must
is to persuade consumers to register and become guide customers on a journey from their first
regular users of its mobile money service. Given the encounter with mobile money to habitual use of the
current products and services consumers are using mobile money platform.
instead of mobile money, the adoption of mobile
financial services represents a significant behaviour In many cases, the customer journey for mobile
money resembles the following diagram.
Customer Customer has Customer Customer knows Customer tries Customer

has never heard of mobile understands the steps the service habitually uses
heard of money and how mobile necessary to the mobile
mobile knows what money could be transact money service
money it is useful to them
 Awareness & Understanding: In the beginning of the The position of registration varies from platform to
customer’s journey, he or she becomes aware of platform and therefore has not been called out as a
a mobile money service. But it’s not enough that unique step in the journey. Mobile money services
consumers know the name of the mobile money that can be accessed over-the-counter, for example,
service or even that they know what mobile money allow customers to become regular users before they
is. Rather, awareness campaigns must build register. Other services insist on registration before
understanding to help users see how this new transaction, but use different mechanisms to do so:
service is both relevant and beneficial to them. sometimes, customers can be signed up without
This lays the groundwork for behaviour change. even knowing what mobile money is or what it does
(by registering customers for mobile money at the
 Knowledge: Once the customer understands what
same time that they register a SIM, for example)! It
mobile money is, what it does and how it could be
is essential for the marketer to consider registration,
useful, the customer learns how to transact. This
however, and how it fits into the customer journey,
typically requires a process of education carried
particularly if it may create special barriers to
out by an agent of the operator (either a cash-in/
adoption.
cash-out agent or a field agent) or by a friend or
family member of the user.
While operators have a range of marketing tools at
 Trial & Regular Use: Once a customer is aware their disposal to move customers along this journey,
of the mobile money service, knows what it different marketing mechanisms are effective in
does, is convinced that it can be useful for them, moving customers along different parts of the
and furthermore understands the processes for journey. In the “Marketing Communications” section
performing transactions, they are ready for their of this article (p. 14), we discuss each of these phases
first trial. After a number of positive transaction in more detail and note which marketing tools have
experiences, users can become regular users.2 been found to be most effective at which stage.
2
T he definition of regular use will vary depending on the service offering and usage patterns. For people who pay a bill once a quarter, regular use
would be performing a transaction once every 90 days. For those using the mobile money platform to send money to family every time they receive a
pay packet, more frequent transactions would be expected. 3
Marketing Airtime vs. Marketing Mobile Money

This discussion of the mobile money customer
journey illustrates a lesson that many operators have
learned over the past three years: marketing mobile
money is very different from marketing airtime.
In most developing markets, awareness of mobile

brands is already extremely high, and almost everyone
already understands what mobile connectivity is.
As such, it has for many years been unnecessary for
operators to articulate this in their marketing efforts.
Similarly, nearly everyone understands how to use
a phone and how to load airtime – and if they don’t,
they can always ask a friend or family member.
Here again, operators don’t need to educate their
customers on how to use their service. Perhaps most
importantly, customers trust mobile operators’ core
offering because they or those around them have
been loading airtime, and trusting operators to keep
good track of it until they use it.
The Role of Trust in the Mobile Money Customer’s

Journey
A necessary precondition for trying mobile money is trust
in the mobile money service, which must be high, since
for most users, their first interaction with a mobile money
service will be to hand over cash. An association with a
known mobile operator brand, extensive above-the-line
advertising, trustworthy agents, and positive word of
mouth all build trust. But the most effective way to gain
a customer’s trust is to ensure that their experience with
the service is a good one. If it’s not, it’s unlikely that the
customer will ever become a regular user.
4
Market Analysis
Competitive Landscaping Identifying Relevant Competitors

An understanding of the competitive landscape is the first What is the real competition for services offered on
step in developing a marketing strategy for mobile money. mobile money platforms? There are obvious direct
Specifically, it is crucial to identify the services that competitors such as mobile money platforms offered
potential customers use as alternatives to mobile money by competing mobile network operators. But there
and their advantages and disadvantages so that mobile are also less obvious indirect competitors, such as,
money can be positioned compellingly. when it comes to money transfer services:
Competitive Analysis at True Money  Remittance companies

In late 2009, a group of executives at True Money in  Bus companies or drivers
Thailand gathered to discuss the possibility of offering
a money transfer service to their users. They had heard  Post offices
about the extraordinary success of M-PESA and wanted  Airtime transfer facilities
to understand whether such a service could be successful  Friends and family carrying cash
in Thailand.
Indirect competitors often represent the most
One member of the team, who had been responsible formidable competitive threat to mobile money.
for examining the competitive landscape, rose to share Understanding these competitors is the first step to
his findings. He explained that the Thai post office, with effectively competing with them.
around 1,200 branches, offered quick and reliable money
transfer for a low flat fee to transfer up to 10,000 baht Understanding the Competition
(about US$300). Banks offered a service with similar With a list of competitors in hand, it is possible
features. One of his colleagues pointed out that, based to compare the product offerings available in a
on prevailing commissions in Thailand, meeting the post particular market. Looking specifically at money
office’s or banks’ prices would hardly generate enough transfer services, for example, competitors can be
revenue to adequately compensate cash-in and cash-out evaluated along the following dimensions:
agents for facilitating a medium-size transfer, let alone
leave any profit for True Money. And since customers
found the post office and banks to be convenient, quick, Product features and Service points3
process
and reliable, it wasn’t clear that True Money could position
its money transfer service as a superior option – and  Is registration required?  Number
therefore command a higher price. If so, what are the  Distribution (are they in
requirements (including business districts? slums?
documentation) and how rural areas?)
This analysis of the competitive landscape ultimately led long does it take
the team to decide that it would be impossible to compete  Quality (what level of service
 Transfer time do agents offer?)
with existing alternatives on the basis of any of the
 Maximum and minimum
dimensions that mattered to users, so they decided not transaction amounts
to develop a money transfer offering. Instead, they chose
 Ease of use4
to continue to focus their energy on expanding their bill
 Proofs of transactions
payment service. In the bill payments market, True Money
had already proven that they could compete successfully Price Consumer perceptions
with alternatives in the market: at the time, their system
was processing over USD$900 million in electronic  Cost for end-to-end transfer5  Awareness levels
payments and 120 million transactions per year.  Reputation for safety of
funds
 Brand associations
3
For a bank, these are branches; for a remittance company, their offices; and for an MNO, transactional (cash-in/cash-out) agents
4
Some examples of this are lengths of queues in banks, delays in bus schedule, user interface on phone
5
It may be difficult to compare the cost of money transfer services because they use different pricing structures: some may price on the basis of the
value transferred (percentage based) while others will probably charge a flat fee. Moreover, when one or more competitor is a mobile money platform,
it will usually be necessary to add a transfer fee and a cash-out fee in order to reveal the cost of an end-to-end money transfer. A useful tool for
analyzing the price of competing money transfer services are charts which plot the price for difference services both as an absolute value and as a
function of the value transferred. See the MMU Webinar on Pricing and Commissions for more. 5
This exercise can again be conducted for all mobile expensive and inconvenient for remittances to rural
money services the operator plans to offer, such as areas, where the bus companies had no offices; the
bill payments, bulk payments and storage of value. It informal version was considered risky and inconvenient,
can be undertaken in house, or by a market research since the recipient would have to wait, sometimes for
agency. Either way, a good competitive landscaping hours, to meet the bus on arrival whose driver was
exercise includes not just desk research but also carrying their cash.
speaking to customers of each competitor and visiting
 Sending goods – foodstuffs, clothes, even building
service points.
materials – instead of money. This was expensive (high
transportation cost) and unreliable (risk of damage,
Competitive Analysis in Tanzania
delay, or theft in transit), but people felt it was at least
In mid-2009, two researchers undertook a competitive
less risky than cash.
review of money transfer options in Tanzania.6 Even at
that time, the mobile money landscape in Tanzania was  Purchasing an airtime voucher and sharing the top-
crowded: Vodacom had launched M-PESA in April 2008, up code with the recipient, who would in turn sell the
hoping to replicate their success in Kenya, and Zain and airtime to someone who needed it in exchange for cash.
Zantel also offered money transfer services to users. But This option was expensive – costing between 10% and
the analysts noted in a report that, although M-PESA was 40% of the value transferred, because “second-hand”
the most widely used mobile money platform in Kenya, airtime could be sold for only 60% and 90% of its
it was by no means the most popular option among face value – and slow, because it could take a while
Tanzanians for sending money. Instead, they found that for the recipient to find a buyer for their airtime. But
a varied menu of formal and informal options were more it was safe.
widely used:
The researchers concluded by connecting their competitive
 Asking a relative or friend to hand-deliver cash. This landscaping exercise with an observation about the way
option was presumably fairly low risk and low cost, but that M-PESA was beginning to successfully differentiate
could be time-consuming, since the sender would have itself from its competitors. “The most common explanation
to wait for a relative or friend to travel to the part of people using M-PESA gave for choosing the service was
the country where the recipient resided. convenience. M-PESA involves less time travelling and
queuing compared to other methods. At the same time
 Transferring money between accounts at National it is affordable, which is the second most popular reason
Microfinance Bank, which had approximately one given to why they chose the service.”
million customers (out of 22 million Tanzanian adults)
and 120 branches. This was an inconvenient option,
even for people with bank accounts, because it usually
involved waiting in long queues at possibly distantly
located branches, but it had the advantage of being
free.
 Sending money using regional buses. This could be

either formal – where the payment would be dropped
off and picked up at ticket offices of the bus company
– or informal, where cash would be handled by an
individual bus driver. The formal option was considered
6
Gunnar Camner and Emil Sjöblom, “Sending money in Tanzania: Overview of available alternatives in 2009,” available at http://www.valuablebits.com/
6 tanzania_sending_money.pdf
Segmentation Segmentation is never undertaken as an end to itself;

Segmentation is the process of identifying groups it always has a practical application. In fact, the
of consumers likely to use a mobile money service, ability to apply the segmentation to mobile money
understanding their requirements, and defining their service design and/or the development of marketing
profiles. It is only after segmenting the base of potential campaigns is the sign of good segmentation. For
customers that operators can select a target market. example, an advertisement targeting urban migrant
workers who send money home would obviously
Why Segmentation Matters look different and use a different marketing mix from
Financial services are more complex than mobile an advertisement targeting rural parents who send
services because of the variety both of customers’ money to their children in school.
needs and of the attributes that customers seek from
products that meet those needs. Because different There are numerous ways to segment a market;
customers have different needs and preferences, it in this section, we will discuss a typical approach
is impossible to market a mobile money service that to segmentation in mobile money and highlight
addresses everyone’s equally well. Segmentation examples of segmentation by mobile money providers
helps the operator develop a marketing strategy that around the world.
effectively drives customer activation.
Segmentation by Safaricom for M-PESA
Microinsurance in South Africa Safaricom and Vodafone designed M-PESA as a way
In South Africa, it is customary to hold expensive funerals for recipients of microcredit to make loan repayments
as a sign of respect for the dead. Paying for these events in Kenya. But when it was pilot tested in 2006, they
can expose households to significant financial hardship, discovered something surprising: people were using the
unless they have prepared for them in advance, either by service to transfer money to each other more frequently
saving or through insurance. than to their microfinance institution. A competitive
analysis of the mechanisms that Kenyans were using for
In focus groups conducted in South Africa, it emerged that money transfer at the time revealed why: people would
while urban dwellers used a mix of savings and insurance typically use informal mechanisms – usually, asking a
to prepare for funeral expenses, rural inhabitant preferred friend, family member, or taxi driver to hand-carry cash
only to save.7 – which tended to be unreliable, inconvenient, and often
expensive.
This is a good example of a case where a group of users
have the same financial need – to protect against the What’s more, a 2006 Finaccess survey showed that just
financial shock of having to pay for a funeral out of pocket 3% of Kenyans had a loan from a microfinance institution,
– but where major differences exist in the attributes while 17% reported having sent money at least once in the
customers seek from a product that would address that last twelve months.8 This meant that selecting remitters as
need. the target market rather than MFI borrowers would allow
Safaricom to address the needs of a larger segment.
A marketer who was unaware of the difference between
the way that rural and urban customers preferred to Safaricom knew it was not enough to identify the 17%
prepare for funeral expenses could easily spend large segment that sent money. They wanted further information
sums of money promoting funeral insurance in rural on their target market. They were able to further refine
areas to little effect. It is a clear example of the power of
segmentation.
7
.J. Bester and D. Chamberlain, “A regulatory review of formal and informal insurance markets in South Africa, a report prepared for the FinMark
H
Trust by Genesis Analytics,” available at http://www.finmark.org.za/new/pages/Focus-Areas/Insurance.aspx?randomID=f48c141a-d6a2-4c61-b33e-
42a90c40f701&linkPath=6&lID=6_7
7
the segmentation by targeting customers who wanted to market selection influenced the marketing communications
“send money home” from an urban location where they which Safaricom used to promote M-PESA, see “M-PESA
had moved for work. This in turn allowed Safaricom to Advertisements” (p. 17).
create a socio-demographic profile of customers in its
target market: they were likely to be male, young, and Identifying Segments
wage-earners, and they were likely to live in Nairobi or one The most common first step in segmentation is
of Kenya’s other large cities. For more of how this target identifying the groups of customers who most need
the product being offered. For mobile money transfer,
this means identifying consumers who are already
transferring money on a regular basis.
Money Transfer in Tanzania

In a survey undertaken recently in Tanzania, 13% of respondents indicated that they send money to other people, which suggested
a total of 3.1 million customers.9 It is possible to segment these customers into three groups: those who send money frequently
(i.e., at least once a month), infrequently (less than once a month, but at least once every three months), and occasionally (less
than once every three months):
Occasional senders:
1,364,000
Non-senders:
20,800,000 Frequent senders:
1,054,000
Infrequent senders:
682,000
Once the operator has been able to identify the  Traders paying wholesale suppliers for inventory
population which is sending money, customers can
 Small companies / factories paying wages
be grouped according to their motivations for making
money transfers. While every market is different, a
If a bill-payment service is being offered, the same
list of potential segments might look like this:
exercise can be completed, looking instead at the
different monthly bills that people pay.
 Parents sending money to their children in school
 Migrant workers sending money home. In some Some operators undertake quantitative market
markets, it may be useful to sub-segment this research to generate lists like the one above as well
group, for example: as to determine the size of each segment. Operators
 Young adults supporting parents who do not invest in such research have to base their
 Spouses supporting their family analysis on secondary sources.
 Family members sending gifts / support to other

family members
8

“Financial Access in Kenya: Results of the 2006 National Survey,” available at http://www.fsdkenya.org/finaccess/documents/
FinaccessReportFINALMain.pdf
9
David Montez and Peter Goldstein, “Mobile Money for the Unbanked: Lessons from Tanzania,” available at http://www.audiencescapes.org/sites/
8 default/files/AudienceScapes_Mobile%20Money%20for%20the%20Unbanked_Lessons%20from%20Tanzania_December%202010.pdf
Tigo Ghana’s Pre-launch Market Research Understanding Segments

In preparation for launching TigoCash, Tigo Ghana With a list of segments in hand, operators undertake
undertook market research to understand the demand for to understand the preferences, attitudes, and
remote payments in Ghana. First, their market research socioeconomic and demographic characteristics of
agency conducted a series of eight focus groups, with customers in each segment.
customers grouped into socioeconomic or demographic
segments, to explore how people were sending money Preferences
already. On the basis of those focus group discussions, It will be hard to market a mobile money service
the team formulated a set of hypotheses which informed to customers without understanding what they are
the development of a quantitative survey, which yielded likely to seek from it. Understanding segments’
quantitative estimates for the number of customers preferences answers the question, “What features of
making remote payments, their reasons for doing so, and a mobile money transfer service are most important
their socioeconomic and demographic profiles. Finally, a to the customer?”
second round of focus groups was held in order to (1)
understand why customers were behaving in the ways Often, preferences are rooted in behaviours. The table
that had been reported in the quantitative study and (2) below describes the way an illustrative segment,
gauge reactions to TigoCash product concepts. migrant workers, behave and what that suggests
about their preferences when it comes to selecting
a mechanism for transferring money. Operators can
The MMU programme has a variety of use market research to test these implied preferences
tools to help operators undertake market and discover others that do not flow obviously from
research, including a Customer Insights observed behaviour.
Toolkit and sample focus group discussion
guides and survey questionnaires. They
are available upon request by e-mailing
mmu@gsm.org.
Observed behaviour Implied preference
Migrant workers typically work long hours and have few breaks from This segment will seek convenience from a mobile money service.
work, so they do not have time to stand in queue. Having an agent near their work with extended hours and no long
queue will likely be very important to them.
Migrant workers typically have lower wages, which have to cover their The cost of the money transfer will probably be very important to
living costs as well as the living costs of their family back home. them, as will reliability – since the impact of losing part or all of a
given remittance would cause a severe financial shock for them or
their intended recipient.
Migrant workers often have lower educational level. The user interface for the mobile money service will need to be
simple and the marketing messages should have more visuals than
words. Also, migrant workers will need some support from agents for
conducting the transactions.
Sub-segmentation can be helpful at this stage, if it is speed and convenience (and is willing to pay for
possible to identify groups within a segment that seek it) and a lower-income group that cares primarily
different product attributes. For example, an operator about price (and is willing to sacrifice speed and
might discover that there are two kinds of migrant convenience). In this situation, two groups with the
workers with significantly different preferences: same need have different preferences, which calls for
one higher-income group that cares primarily about sub-segmentation.
9
Understanding Customer Preferences in Thailand Socioeconomic and Demographic Characteristics

In early 2010, True Money was seeking to drive customer Finally, after identifying the uses of money transfers
usage of its over-the-counter bill-payment service, True and the needs of the customers, it is possible to define
Money Express. It commissioned a set of focus groups or sub-segment segments with the demographic
to try to understand attributes customers valued from a and socioeconomic markers such as age, gender,
bill-payment service. True Money knew it could market income, etc.
its service touting a variety of attributes – cost, speed,
reliability, convenience, etc. – but it didn’t know which Continuing the above example, we can construct a
of these messages were most likely to resonate with profile for an illustrative migrant worker segment:
potential customers in one segment of particular interest:
20-year-olds in greater Bangkok.  Gender: male
 Age: 25–45
In focus groups, customers made their preferences clear:
convenience was the single most important feature  Education: primary schooling; most are numerate,
of a bill-payment service, and it was on that basis that but many are illiterate
they chose which service to use. How did they define
 Income: monthly earnings of approximately $80
convenience? First, proximity of agents to where they lived
and worked, and second, the ability to transact anytime,  Residence: shared housing in lower-income
including outside of regular business hours. neighbourhoods of urban centres
True Money was able to exploit this insight in two ways: Target Market Selection and Positioning
by focusing its distribution team on growing the agent After segmenting the universe of potential customers,
network strategically to ensure optimal agent positioning operators select the priority target market(s) where they
and recruiting outlets with long hours, and by refining its will focus. Selecting a target market helps operators
marketing messages to accentuate the convenience of communicate effectively with consumers and position the
using True Money Express. service based on their needs and preferences.
Attitudes Target Market Selection

Sophisticated marketers also seek to understand How do operators select a target market? Two criteria
attitudes of customers, either as a way to better are most important:
understand customers in a given segment or even
to use differing attitudes as a basis for segmentation. 1. Size: There is little point in selecting a target
For example, customers can be characterised by their market that is too small to support the mobile
attitude toward using new technology. People who money business through its initial growth phase.
are very open to trying new technology, or “early There are two reasons why it is imperative to have
adopters,” are likely to be easier to persuade to try a reasonably large initial target market in mobile
mobile money than those who are uncomfortable or money. First, mobile money services experience
distrustful of technology. strong economies of scale at both the platform and
the agent level, so it is essential to drive volumes
It is very hard to assess the attitudes of customers as quickly as possible. Second, mobile money
without market research. However, operators can services focused on transfers benefit from strong
make assumptions about customers’ attitudes on the network effects. As such, all else being equal,
basis of their socioeconomic and/or demographic operators should select a target market that will
profiles. For example, young people are generally seen allow it to scale up as quickly as possible.
to be more likely to adopt new technology products
By size, however, we refer to volume of
than old people; educational attainment is sometimes
transactions rather than number of customers.
also cited as a predictor of early adoption.
Sometimes, operators choose to focus on smaller
segments (small-scale traders, for example)
The important attitudes to consider vary depending
because they have the potential to become heavy
upon the product line offered on a mobile money
users. When these heavy users are accustomed
platform. To market a savings product, for example, it
would be helpful to understand customers’ attitudes
toward the future.
10
to sending money to or receiving money from a might solve. All else being equal, this is likely to
large number of other parties, this can also help to be the most attractive segment to target.
exploit the strong network effects that characterize
mobile money. Signing up “nodes” – users who Three additional considerations are especially
are likely to have many transaction partners – will relevant when choosing a target market in the context
help drive adoption by those transactions partners of mobile money.
as well.
 Consider the penetration within a potential
The target market need not be vast to put a mobile
target market of operator connections. For wallet-
money service on the road to mass-market success.
based services offered by operators, owning a
As “M-PESA Growing Beyond Safaricom’s Target
SIM card issued by that operator is a pre-requisite
Market” (p. 13) illustrates, it is quite natural for
for signing up for mobile money. Operators that
customers outside the target market to sign up
select a target market in which their core business
for and begin using mobile money even without
has low penetration will have a more difficult
being explicitly targeted by the operator. Word
marketing challenge, because there will be one
of mouth, turbocharged by advertising and
more hoop – SIM purchase – for potential users to
network effects, helps this process along; so do
jump through before they can sign up.
agents, who, if correctly incentivized, will become
effective salespeople to customers outside the
Selecting a Target Market for Celcom Aircash
target market. So it is important to balance a desire
Axiata Group, having identified that a number of its
for a large target market with the need to target
operating companies were in place at either end of
customers who are likely to be receptive to the
significant international remittance corridors, was one of
mobile money proposition.
the first operator groups to map out a strategy for using
mobile money as a way to capture part of these flows.
or more about the role of network effects
F In line with this strategy, Celcom Axiata Berhad, the first
in mobile money, see “Understanding telecommunications service provider in Malaysia and an
(and Exploiting) Network Effects Axiata subsidiary, developed a service that would allow
in Mobile Money”, available at Indonesian migrants living in Malaysia to send money
http://mmublog.org/global/ home – working with XL, Axiata’s subsidiary in Indonesia,
understanding-and-exploiting-network- to work out the cash-out logistics.
effects-in-mobile-money/.
When Celcom launched its international remittance
2. Alignment between customers’ needs and the product, customer adoption was not as robust as expected.
benefits of mobile money: As important as a Market research revealed that, despite Celcom’s strong
segment’s size is the intensity of the demand that market share in the mobile market, migrant workers were
customers in the segment are likely to experience more likely to use one of its competitors, DiGi. And without
for mobile money. That’s because the higher the a Celcom SIM, customers couldn’t use its international
intensity of their demand, the more likely they are remittance service.
to try the service.
Rather than cede the segment, Celcom executives worked
Generally speaking, intensity of demand for the
to find other ways that it might cater to migrant workers.
operator’s mobile money product is a function
It ultimately decided to position one of its prepaid airtime
of how dissatisfied they are with their current
brands, Celcom Sukses, to meet the needs of migrant
money transfer mechanism. Customers who are
workers – notably, by offering the lowest international
very frustrated with their current approach to
direct dial call and SMS rates to countries, including
money transfer are significantly more likely to
Indonesia. The result was a product portfolio, including
try mobile money.
but extending beyond mobile money, that was driven
To put this more strongly, operators can look for by the needs of a particular segment and that could be
the segment in which customers are suffering from marketed to that segment in an integrated way.
the most acute “pain points” that mobile money
11
 Consider whether a potential target market is “Urbanised blue collar workers,” e.g. garment factory
composed of early adopters. Operators which and construction workers; “High school kids”; “university
select a target market of early adopters are more students”; and “First freedom white collar workers,” e.g.
likely to see rapid adoption of their service than nurses, teachers, business owners, and bank employees.
others.
Finally, after assessing the specific needs of each of these
 Consider the addressability of a potential target segments, WING decided to make “urbanised blue collar
market. When marketers refer to a segment as workers” its target market. This segment was largely
addressable, they mean that it is possible to reach composed of employees in garment factories, aged 15–
those customers through marketing channels. In 35, earning less than $100/month. WING chose to target
general, the more media that customers consume, this segment for a few reasons.
the easier it is to address them.
1. Their research suggested that, on average, garment
Segmentation and Target Market Selection by workers sent 30–50% of their income home to support
WING in Cambodia their families in rural Cambodia. As such, they were
In 2007, ANZ Bank created WING, a subsidiary that obvious potential users of WING’s money transfer
offers mobile money for the unbanked in Cambodia. In service.
preparation for its launch, the WING team conducted a
2. Research suggested that the risk of theft was something
segmentation exercise with a market research agency.
that garment workers worried a great deal about. As
They assigned Cambodia’s 8.2 million Cambodians
such, they might well find the possibility of a safe place
aged 15–55 to eleven segments, based on age, income,
to store money (which a WING account would offer)
occupation, and dependents. For each of these segments,
attractive.
WING prepared a profile consisting of:
3. Finally, this segment was highly addressable: garment
 A customer description: age, family status, monthly factories in Phnom Penh were concentrated in particular
income, job type, and spend items areas, so it would be easy to concentrate marketing
spend and the agent-network footprint in places that
A
ttitudes, needs, and behaviours: attitudes and
migrant workers would frequent.
feelings toward money and money usage patterns,
needs, and desires and aspirations
WING estimated that there were 1.1 million Cambodians
 Suitability for WING: transactions performed, in this segment, representing about 14% of the adult
mobile phone usage, geographical presence, and ease population of the country.
to reach – all of which fed into an overall “suitability
rating” A final point on choosing a target market: selecting
a target market does not mean that the mobile
WING was able to rule out five segments as targets right money product will exclude all other customers.
away: two that did not have sufficient financial resources In fact, most operators design their mobile money
to make use of WING services and three that seemed to platform with enough flexibility that the products
have their payment needs satisfied by other institutions. and services offered can be used by anyone.
Selecting a target market simply helps operators
By comparing the transactional needs of the remaining craft a marketing strategy that will be effective with
segments with WING’s planned service offering (money the customers they most strongly want to serve. For
transfers, airtime purchase, bill payments, and merchant this reason, target market selection should not be
payments), WING narrowed the list of remaining confused with market sizing.
segments to the four which would find WING most useful:
12
M-PESA Growing Beyond its Target Market The textbook approach to positioning a product
It is not exactly known how large the Safaricom’s target requires selecting a single primary benefit that will
market of urban, male migrant workers sending money be promoted. Operators often have trouble selecting
home was when M-PESA was launched in 2007, but a primary benefit because mobile money product
research conducted at the time indicates it was probably offers multiple benefits to using the product, i.e.,
no more than three million Kenyans, or 14% of the adult convenience, speed, security and so on. But the more
population. As of late 2010, M-PESA boasted 13 million focused the positioning statement is, the clearer the
active users, or 61% of the adult population. Although marketing messaging will be.
its marketing was highly targeted, the design of M-PESA
made it useful for a very wide variety of customers.
Positioning
Drafting a product positioning statement is the bridge
between selecting a target market and developing a
communication strategy. Once a target market has
been chosen, the operator can decide how best to
position a service to that market, thereby laying the
foundation for a successful marketing campaign.
The positioning statement defines the main benefit of

the mobile money service and differentiates it from
the competition. An example of a mobile money
product positioning statement is as follows:
For urban migrant workers who need a safe

way to send money home to their families in rural
areas, mCash is a mobile money transfer service
that provides safe transfers across the country.
Unlike bus drivers and other informal remittance
options, mCash uses a secure electronic transfer
system to ensure cash is never stolen en route.
Positioning statements are not communicated

verbatim to customers. Instead, they are used as an
input to the development of a marketing campaign.
Obviously, the primary benefit that is articulated in

the positioning statement should be one that is highly
valued by customers in the target market. It should
also be one that no competitor, direct or indirect, can
offer. For these reasons, it is very difficult to develop
a compelling positioning statement without a clear
understanding of the competitive landscape and of
the target market’s preferences.
13
Marketing Communications
Operators have a range of marketing tools to bring earlier stages of the customer journey, while others
customers from unaware to regular use. Certain are only useful at the end.
marketing communications tactics are effective in the
Building Awareness and Understanding

The starting point for any mobile money campaign Television enables operators to tell a story with sound
is building awareness: letting potential customers and movement, and engage the viewer with a more
know that the service has been launched, what compelling message. Outdoor can be eye-catching
is being offered, and how they might use it. As but conveys only a simple static message. Radio
discussed in “The Customer Journey” (p. 3), high- can tell a brief story, but cannot provide much detail
level brand awareness is not enough. For marketing before the listener tunes out.
mobile money, it is essential that operators also build
understanding by communicating how the platform The reach of each of these media differs from market
is useful for the consumer. to market. Sophisticated advertising agencies will
place advertisements where they are most likely to be
Advertising consumed by the target market, taking into account
Advertising is the primary tool that operators patterns of media consumption in a given country.
employ to raise awareness of mobile money. Most
operators take the view that a national advertising Matching Media to Target Market Segment in
campaign is the right way to launch mobile money. Pakistan
The widespread presence of advertising builds trust The mix of media used to promote easypaisa, a service
and confidence in the way that a campaign composed offered by Telenor and Tameer Microfinance Bank in
exclusively of below-the-line elements cannot. This is Pakistan, was based on the relative strengths of each
particularly true for money transfer services, since channel and on campaign objectives. For example, Telenor
a national campaign reaches both potential senders Pakistan has spent very little money advertising easypaisa
and recipients. on the radio. This was due in part to the low popularity
of radio, and the widespread consumption of television,
The media most often utilized in awareness-building among its target market.
advertising campaigns are television, radio, and
“outdoor” such as billboards or bus branding. While The genius of effective campaigns is in their
these media are often used together for maximum execution. For this reason it is critical to enlist the right
impact, they each have different strengths, both in advertising agency as a partner and to properly brief
their ability to communicate a compelling message this agency on the campaign objectives. To give the
and their ability to reach a large number of people. advertising agency all the tools they need to succeed,
14
savvy operators provide in-depth agency briefs to

outline the core principles of the brand (including
the brand architecture), the positioning statement,
and the desired tone of the campaign. Operators are
also responsible for ensuring advertising agencies
keep communications consistent across all marketing
elements, both above-the-line and below-the-line.
Messaging
With operators spending such significant money
on awareness campaigns, finding the right
communication message (words and images) for
the launch campaign is essential. This is harder
than it sounds, because mobile money often targets
consumers who may never have heard of mobile
money, or possibly never even used formal financial
services. Mobile money launch campaigns have to
(1) introduce the mobile money platform, (2) explain
what service(s) is being offered, and (3) advise users
of the primary benefit(s) of that service.
Campaigns that omit any of these messages tend

to be less effective in moving customers along their
journey to activation. Because mobile money is still an
unfamiliar concept in most markets, basic awareness
messages such as “mCash has arrived” or “Financial
services and mobile technology have come together
to make mCash” do not provide enough information
to consumers to compel any type of action: users
become aware of the mobile money program but fail
to see why they should try it. Providing a clear user
benefit in the awareness campaign leads to the best
return on investment for awareness campaigns.
The Evolution of Marketing the Easypaisa Mobile

Wallet
Telenor Pakistan launched easypaisa in 2009, a
platform that initially allowed customers to pay bills
and transfer money over-the-counter. For easypaisa’s
launch, an ambitious brand-building campaign was using these services, in part because these were over-
mounted to introduce the brand to potential customers. the-counter services which required only that a customer
Complementing this campaign were advertisements in walk into an easypaisa outlet – the transaction itself was
which Telenor promoted bill-payment and money-transfer performed by the agent on his handset.
services. A relatively low degree of customer education
was required in order to persuade customers to begin
15
On the back of strong customer demand for over-the- It is worth noting that campaigns which communicate
counter services, Telenor added a mobile wallet to the a key user benefit are only possible to design once
easypaisa product line in February 2010. It chose to operators have selected their target market and
explain the uses of a mobile wallet with a number of articulated a positioning statement. Because this
billboards, featuring text like “Introducing the only bank positioning statement identifies one key user benefit
account that fits in your pocket!” and “Ever paid utility for one specific user group, it necessarily improves the
bills or transferred money while cooking?” focus of the campaign.
A number of operators are reticent to speak to just one

consumer group, and often opt for simple explanatory
messages at launch with the objective of broadly
speaking to everyone about the availability of mobile
money. However, in trying to speak to everyone, they
are left with a weaker message that does not compel
users to action.
However, customer adoption of the mobile wallet was

disappointing. Market research suggested that these
advertisements had not conveyed a compelling reason for
customers to sign up for the wallet. It was not clear to
customers why they shouldn’t just keep paying bills and
sending money over the counter.
As such, while streamlining the registration process,

Telenor undertook market research to understand what
benefits of the mobile wallet potential customers were
most likely to value. Safety and security emerged as a
theme, so Telenor worked with its creative agency to create
a marketing campaign that would tout the easypaisa
wallet as a safe place to store money.
16
M-PESA Advertisements
Creative elements of the M-PESA “Send money home” campaign clearly reflected the targeting of young male migrant workers,
and two key product benefits, ease of use and affordability, are plainly articulated. The advertisement achieved deeper awareness
with their target market, whereby consumers knew what M-PESA was but more importantly, they knew how it could help them.
A number of other elements are of note:
 Safaricom green is the backdrop for the

advertisement, leveraging the strength of
Safaricom’s brand in Kenya to build trust in
M-PESA
 The ribbon of shilling notes makes concrete

the abstract nature of sending money by
phone, designed to communicate with users
unfamiliar with the concept of mobile money
transfer – even those who cannot read
 The advertisement appeals as much to money

transfer recipients (the parents in the photo)
as to the sender, reflecting the influencing role
that recipients play when senders choose a
method for sending money
 The call to action is clear and extremely

prominent
 The sender is depicted as relatively prosperous,

and neatly if not formally dressed – splitting
the difference between a realistic and an
apsirational depiction of migrant workers
Safaricom invested so heavily in the send money

campaign that by August 2008, 17 months after
launch, only 18% of nonusers of M-PESA didn’t
know about it, and by December 2009, that
figure had dropped to just 3%. With such high levels
of awareness, Safaricom crafted a new campaign, with an eye towards
establishing a more emotional, rather than functional, relationship
between users and M-PESA. A series of print advertisements and
billboards, complemented by a TVC, explored the reasons for which people
were sending money and the emotional resonances of those transactions.
In this advertisement, a little girl in a school uniform is shown hugging her
father, who paid her school fees using M-PESA.
Safaricom executives note these advertisements would have been

ineffective in a launch campaign, because they do not communicate
clearly what M-PESA does and how it might be useful to the target
customer.
17
A final consideration on messaging for the campaign In “Measuring Effectiveness” (p. 28), we discuss
is the imagery utilized. The mobile money users tools that operators can use to evaluate when their
depicted in any advertisement must resonate with objectives for building awareness have been achieved
potential customers in the target market. If they are (and when, as such, resources can be re-deployed to
seen as too different, then customers will assume the focus on activation).
advertisements are speaking to someone else and
ignore them. Branding
Most operators launching mobile money already
The best way to find out if an advertisement have strong brands in their respective markets –
will resonate with the target market is to test it. consumers know of the operator and have an opinion
Focus groups to verify that campaign elements about their strengths in the market. This raises three
are comprehensible and compelling are relatively important considerations when it comes to mobile
inexpensive in the context of the budget for a major money.
advertising campaign.
First, operators have found it important for any
Aspirational Imagery vs. Depicting “People like mobile money messages to fit within the overall
me” – Evidence from Thailand brand. If an operator has positioned their brand as
For years, True Money has been promoted using marketing the “company that helps you keep your friends and
creative that features aspirational imagery. Advertisements family close,” then a mobile money campaign can
feature models that appear high-status, the idea being easily communicate that the mobile money service
to create a brand for the service that is appealing and is just another way to bring the family and friends
inspirational for users. closer.
However, True Money discovered in focus groups that On a less positive note, operators have to face up
such branding was actually alienating some potential to the fact that perceptions of their core brand are
customers. When asked to describe users of True Money, not always positive, and negative perceptions of
nonusers conjured up an image of a business person who the core brand affect people’s reaction to a mobile
was very busy and earned a high salary – a profile they money service. For example, do consumers perceive
noted was very different from their own. the operators’ network as unreliable? This can pose a
real barrier to mobile money adoption, as consumers
This insight prompted True Money to consider whether will only transact on mobile money platforms they
its marketing creative was as effective as it could be, trust. As such, understanding the associations that
particularly when addressed to lower-income segments. customers have with the core brand, good or bad,
can help operators as they develop their marketing
Timing strategy.
The launch of any advertising campaign only makes
sense once the customer can actually transact. Most Finally, operators have the challenge of determining
importantly, the agent network must be ready. how the mobile money brand will fit within the
Operators who have not properly trained and overall brand architecture. Some operators have
incentivised agents to help users sign up or have chosen to launch mobile money as a product within
not ensured agents have adequate liquidity for their brand, while others have elected to launch the
initial customer trials have realized low returns overall mobile money platform as a sub-brand, for
on their initial marketing investment. Worse, these which there may be multiple products such as money
events erode the confidence of customers who have transfers, bill pay, etc. Considering the product
bad experiences, making them less likely to try the roadmap can help operators “future proof” their
service again later. decisions about how to fit mobile money into the
brand architecture.
18
Sub-branding by Grameenphone in Bangladesh

Grameenphone launched a bill-payment service in 2006 in Grameenphone decided that it needed to consolidate all
Bangladesh, which it called, for simplicity, “BillPay.” Over of these products into a single brand for the mobile money
time, Grameenphone expanded its line of payment products platform. Accordingly, it developed MobiCash, an umbrella
with railway and cricket ticketing and lottery e-voucher brand that could encompass all of Grameenphone’s mobile
distribution, and as of late 2010 it had plans to expand this financial services.
portfolio yet further.

Educating and Activating Customers

While awareness building is perfectly suited to mass to register and try the service, further work is required
media advertising campaigns, customer education to educate the consumer on how it works. Many
typically requires a more personal approach. As elements of the mobile money customer experience
such, operators leverage transactional agents, field are non-obvious from the perspective of a consumer,
agents, and current users to guide potential customers from the existence of an electronic wallet to the
from awareness to use. need to use independent agents as cash-in/cash-out
points. Operators need to educate customers about
Effective awareness-building campaigns bring these facets of the service if customers are going to
customers to the point of recognizing how mobile become knowledgeable enough to transact.
money might be useful to them. But to compel users
19
Customer Activation in Tanzania For more on agent training, incentives, and

When asked to reflect on lessons learnt while rolling oversight, see “Building, Incentivising, and
out M-PESA in Tanzania, one Vodacom executive cited Managing a Network of Mobile Money
the importance of customer education. He said that Agents,” which is available at http://
above-the-line marketing is not enough to get a mobile www.gsmworld.com/documents/Agent-
money service “off the blocks” and that a lot of effort Networks-full.pdf.
must be invested to get people comfortable with the
idea of transferring money using their phones. Indeed, he Marketing materials at the cash-in/cash-out agent’s
estimated that it takes at least 30 minutes of personal shop help educate users about the service. In almost
interaction (with a transactional agent, a field agent, or every case, agents are required to display branding
a friend or family member familiar with M-PESA) to get a for the mobile money service and certain customer
new customer to understand how to use a mobile money information, like a tariff schedule, the agent’s ID
service. number, and customer advisories.
Transactional Agents Agent Branding in Kenya, Bangladesh, and

The cash-in/cash-out agents that facilitate mobile Thailand
money transactions are perfectly positioned to Operators have taken a number of different approaches
support customer activation. They can answer to branding their agents’ shops in order to raise the
customers’ questions and concerns about the service, visibility of their mobile money service and instil customer
customise a “sales pitch” for an individual customer, confidence at the point of transaction.
and demonstrate to customers the mechanics of
transacting. Of course, in most markets, they also Safaricom has taken by far the most aggressive approach,
register customers – usually a prerequisite to making insisting that its agents paint their shops green (and, at
a first transaction. least in theory, stop selling the airtime of its competitors)
and prominently display the M-PESA logo, which is
There are three key success factors for leveraging impossible to confuse with the ordinary Safaricom logo.
agents to activate customers: That’s important, because without an obvious way to tell
mobile money agents from airtime retailers, customers
 Training – Well-trained agents are proven to be can get frustrated trying to locate the former.
effective in driving customer activation. Poorly
trained agents won’t be able to perform their side
of transactions, let alone demonstrate to customers
how to perform theirs.
 Incentives – Explaining to consumers how to use

mobile money is time-consuming for agents. It
is therefore important that agents have been
incentivized properly for both registration
and cash-in, and for the balance between those
incentives to be right. As important as the
commissions that agents are paid are the volume
of transactions that they are able to perform; this
in turn obligates operators to carefully grow their
agent network in proportion to their user base in
order to meet the needs of both groups.
 Oversight – Agents can be a powerful force for
driving customer adoption; unfortunately, if
unsupervised, they can as easily drive customers
away. Unscrupulous, incompetent, and illiquid
agents do more harm than good, so operators
need to monitor the network to discover and
rectify these problems.
20
Grameenphone distinguishes BillPay agents from regular Field Agents

Grameenphone airtime retailers using colour-coded Transactional agents are not always able to do
signage that indicates which services are available at the the “hand-holding” that customers require. To
agent. supplement their efforts, operators have deployed
special teams of marketing field agents to educate
the customer about mobile money.
This tactic of “feet-on-the-street” is popular not

just in mobile money, but also widely utilized in
fast-moving consumer goods, microfinance, health
interventions, etc. It has proven to be a very effective
method of customer education in emerging markets,
particularly when significant behaviour change is
required of users.
The key advantage of field agents when compared to

transactional agents is mobility. Transactional agents
have to wait for customers to come to them; field
agents can seek out customers where they live and
work.
The critical success factor for this tactic is the

incentives for field agents: the commissions paid to
the agents must be aligned with the objectives of the
campaign. Field agents who are paid simply for
registering customers will leave operators with a
large volume of registered but inactive customers.
If the sourcing of field agents is outsourced to a

marketing company, operators have discovered that
it is important to carefully oversee agent training and
In Thailand, True Money charges shopkeepers to become to ensure that agents use specific “talking points”
agents, and the shop branding they receive varies about mobile money. These field agents are viewed
depending on how much they pay. Top-tier agents receive by the consumer as representatives of the mobile
a lightbox which they can install on the outside of their money brand, and it is therefore important to shape
shop and which draws traffic to shops even at night. the messaging they employ.
21
Barriers to Customer Adoption in Uganda

MTN Uganda launched MobileMoney in March 2009. It Despite rapid customer adoption of mobile money, however,
decided to drive customer sign-ups to its MobileMoney the number of customers who were transacting was
platform by using a cadre of hundreds of dedicated customer significantly lower. Fifteen months after launch, the active
acquisition agents. Field registration agents had been rate (the percentage of registered users who had transacted
instrumental in building MTN’s core mobile business in the in the last 90 days) stood at 43%.
late 1990s and early 2000s, so it seemed like an obvious
way to grow the mobile money user base as well. These This may be because users struggled to find a cash-in/cash-out
agents circulate in markets and go door-to-door, educating agent after they had been signed up by a registration agent.
customers, performing SIM swaps, and undertaking KYC. Or it may have been that registration agents were signing up
Agents are paid a commission for each customer that they users with a low demand for mobile money services.
sign up. The vast majority of MobileMoney’s more than
1 million customers have been acquired in this way.
1000
900
800
700
600
Thousands
500
400
300
200
100
0
Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10
Registered Customers Active Customers
Bridging the Registration/Activation Gap in West In Mali, Orange found that this delayed registration
Africa process resulted in low activity rates. Despite the Orange
In Côte d’Ivoire, Senegal, Mali and Niger, Orange Money customer having taken the initiative to register, not
offers a mobile money service called Orange Money. To all of them returned to the agent two days later to make
begin using Orange Money, customers must first visit a their first transaction.
transactional agent and complete a short registration
procedure. Customers who register with an agent who To address this issue, Orange commissioned 100 field
has an internet connection receive automatic account agents, whose principal focus was to support users in
confirmation and are able to make their first transaction conducting their first transaction. In fact, their commissions
immediately. But for those customers who register with were paid out only on the basis of transactions, not
an agent who is not online, the process is manual, and registrations. The work of these “feet-on-the-street”
the paper registration form is sent to the Orange office for agents was quite successful, with Orange Money enjoying
processing. This offline registration process generally takes a very significant increase in activation rates of these
one to two days, after which Orange sends the customer customers.
an SMS confirming the registration is complete and they
can transact.
22
Event Marketing people’s identities with an official letter, to be present,

Some operators use events to bring potential easing what could otherwise be a major bottleneck in the
consumers together, explain to them the key registration process.
benefit(s) of mobile money and demonstrate exactly
how it works. These events can be small community Offering prizes, rather than a flat incentive (i.e. a starting
parties held in an outdoor plaza or the community balance) appeared to be more effective in driving
centre, or larger-scale events taking place at popular registrations at such events. However, the team found that,
sporting events. Whatever the size of the event, the although these events could reliably drive registration,
key success factor is the presence of an adequate those registrations did not necessarily translate into
number of trained representatives of the mobile activations, and that other, subsequent efforts were
money service to interact personally with potential necessary to get customers to begin using the service.
customers and demonstrate the service.
Friends and Family
Event Marketing and Chance-Based Promotions Perhaps the most important way potential
by SMART in the Philippines customers learn how to use mobile money is from
SMART Money was launched in the Philippines in 2001. active mobile money users. A friend, a family
During 2009 and 2010, SMART worked to extend the member, or a colleague, can explain to a nonuser
reach of SMART Money to remote islands (the Philippines how a product works and even demonstrate a
is composed of some 7,000 islands, of which roughly transaction. Additionally, a recommendation from
4,000 are inhabited) that have limited access to financial a friend who has had a positive experience with
services and are not priority areas for traditional financial mobile money can prove invaluable in building trust
institutions. They did so by partnering with MFIs and for a nonuser. The role that friends and family play
cooperatives which agreed to operate SMART Money in educating new customers about mobile money is
Centres in their branches. particularly pronounced given the network effects
that characterize mobile money transfer: customers
To sign up customers for SMART Money in these who want to transfer money to a nonuser are more
communities, SMART organized “activation blitzes.” likely to invest the time to teach the recipient what to
Timed to coincide with general assemblies of their co- do upon receipt.
op partners or with village fiestas, the activation blitzes
were an opportunity to tell a large number of users about Despite the importance of word-of-mouth, this type
SMART Money at the same time and register them on the of peer education is not in the direct control of the
spot, often by offering prizes to lucky new registrants. operator. However, the behaviour can certainly be
Because in many cases customers in these areas did not encouraged. For example, refer-a-friend campaigns
have sufficient documentation (i.e., a national ID card) to to incentivise users to help friends sign up for the
open a SMART Money account, SMART would sometime service could be an effective tactic for operators with
arrange for a village chief, who was authorized to verify a core base of early adopters looking to grow their
customer base. “Take home” pamphlets with clear,
step-by-step instructions are also useful enablers of
this behaviour.
23
Encouraging Regular Use

The evidence to date shows that customers who have Customer Protection in Kenya and Cambodia
a positive experience after their first use of mobile Although most of the early adopters of M-PESA were
money are likely to continue using it. Unfortunately, previously banked and thus had some experience with
however, there are a variety of ways that the customer financial services, as M-PESA matured it increasing began
experience can go wrong, from problems with to acquire customers which were completely unbanked.
an agent’s liquidity levels or service quality to an Research suggests that between August 2008 and
unstable technology platform. While these issues fall December 2009, the percentage of unbanked adults who
outside of the scope of marketing communications, were using M-PESA went from 25% to 50%.10
they demand the attention of the mobile money
general manager. Perhaps unsurprisingly, this trend dovetailed with an
increased incidence of PIN-related fraud. After all,
After all, when a customer tries a service once and customers who have no experience devising, using,
never uses it again, it means that all of the marketing remembering, and protecting a PIN are unlikely to be
investment that had been made in that customer able to do so without sensitisation. As such, Safaricom
has been wasted. developed a mini-campaign to remind customers not to
Customer care plays a pivotal role in keeping

customers on track to regular use. When a customer
seeks out customer service, it is usually because
they’ve had a problem; resolving their concern
effectively is an opportunity to keep that problem
from becoming the reason a customer abandons
mobile money altogether.
In “Diagnosing Customer Activation Issues” (p. 29),

we describe a number of problems in the customer
experience that can deter customers from trying the
service again, and provide links to resources that can
help operators to solve them.
Of course, a positive first experience with mobile

money doesn’t just mean experiencing no problems. It
also includes finding that mobile money delivers on its
promised benefit(s) and represents a real improvement
over the status quo (that is, the customer’s previous
way of sending money, paying a bill, etc.) in order to
justify permanent behaviour change.
10
illiam Jack and Tavneet Suri, “The Economics of M‐PESA: An Update,” available at http://www9.georgetown.edu/faculty/wgj/papers/M-PESA_
W
24 Update.pdf
share their PIN with anyone. Posters in agent shops were In contrast, investing in customer promotions for
complimented with radio advertisements, to address the new users risks offering bonuses to the wrong users
population which cannot read. – ones that have no recurring need for the service in
question and that are therefore less likely to become
When launching CellcardCash in Cambodia, Cellcard regular users in the future.
hoped to stave off such problems and devised a similar
poster for use in agent shops. (The poster depicted Sign-up Bonuses in Uganda
here has been translated into English from Khmer.) It To drive customer adoption of MobileMoney, MTN ran a
also includes two pointers about the cash-in/cash-out promotion in which customers who signed up for MTN
process to help customers protect themselves from being MobileMoney were rewarded with a starting balance
defrauded by an agent. of 5,000 Ugandan shillings (about US$2). It is difficult
to assess the impact that this promotion had on the
rate of customer acquisition. But its effect on customer
activation was disappointing. In an analysis of its
customer database in July 2010, MTN discovered that
roughly 40,000 customers who had never transacted still
had a balance of exactly 5,000 shillings. It appeared that
customers who had received the bonus had not just failed
to become regular users – they hadn’t even cashed out
or converted into airtime the free initial deposit they had
been awarded.
Careful design of promotions can dramatically

improve their effectiveness. For example, customers
in some markets appear to react more favourably
to chance-based promotions such as giveaways
and lucky draws (where they have a small chance
of winning a big price) rather than a promotion in
which their bonus is guaranteed but small.
“Recharge and Win” in Tanzania

Vodacom Tanzania has for some time sought to drive
customer adoption of M-PESA by promoting the airtime
top-up functionality of the platform – the rationale
being that customers find airtime top-up easier to grasp
conceptually than money transfer.
Promotions
Customer promotions (offering them discounts or
M-PESA management identified that agents would be
bonuses for performing certain transactions) can be
key to helping to drive top-up volumes – or, more to the
an effective marketing tool to incentivise customer
point, that they would hinder customer adoption of this
behaviour.
service if not specially incentivised to be supportive. Why?
Because the margin that agents earn selling airtime is
In general, operators have found that promotions
greater than the commission that they earn converting
are more effective to drive repeat use rather than
cash into electronic value, and agents would be reluctant
first-time use. This may be because lapsed customers
to cannibalize their own sales of airtime in favour of a less
have, by definition, previously demonstrated demand
profitable cash-in transaction. So Vodacom offered agents
for a particular service; they may have lapsed because
a special deal: every time customers who signed up with
they forgot their PIN, or because their agent closed, or
a given agent purchased airtime with M-PESA, the agent
for some other reason, but it is probably not because
would receive a 5% commission. This “annuity” meant
they don’t need the service. As such, targeting such
that it was in agents’ best interest to persuade customers
customers raises the likelihood that the promotion
to start purchasing airtime through M-PESA, assuming
will be effective.
that the agent could register them for M-PESA.
25
Although this had an effect, Vodacom decided that it certain promotional periods, and SMART does not intend
needed to complement this channel incentive with a for them to become regular rewards that customers come
consumer promotion. (This is likely because the commission to expect over time; rather, the idea is to incentivise
bonus only incentivised agents to encourage customers customers, particularly inactive ones, to try SMART Money
that they themselves had registered to M-PESA to top up (again or for the first time) in the hopes that they will do
using mobile money.) So it rolled out a new offer: a 5% so again, even without a bonus, in the future.
bonus on all airtime purchased on the M-PESA platform.
This helped to drive a more pronounced increase in top- A final word of caution regarding promotions that
up volumes. offer customers blanket discounts: like any change
in pricing, they should be scrutinized from the
Remarkably, however, it was a chance-based promotion perspective of a fraudster to ensure that they will not
called “Recharge and Win” that seemed to be the most incentivise undesirable behaviour.
effective driver of airtime top-up using M-PESA. Under
this scheme, customers who used M-PESA to top-up were A Transaction-Fee Holiday in Afghanistan
entered into a drawing to win various prizes. Although the In early 2010 Roshan ran a “Send Money Free”
typical customer was unlikely to win a prize each time they promotion, waiving the usual tariff for transferring
topped up (unlike the 5% bonus, which applied to every money, in an attempt to get people to try M-Paisa. This
transaction), it seemed to capture customers’ attention in triggered a massive spike in transactions. Unfortunately,
a way that was highly effective. transaction monitoring revealed that approximately 75%
of these transactions were agents who took advantage
It’s impossible to know whether “Recharge and Win” would of the system: by making multiple small cash-ins to a
have been as effective without the 5% channel commission wallet, then sending money to another wallet and cashing
and customer bonuses that were already in place when out, they could earn more in commissions than these
it was launched. But what is clear is that “Recharge and transactions cost them in fees. Approximately 35 agents
Win”, like most chance-based promotions, was significantly took part, who were then suspended or entirely removed
cheaper than ongoing discounts or commissions (which, from the system.
combined, mean that Vodacom is now paying significantly
more to distribute airtime via M-PESA than via scratchcards). SMS
And they are easier to discontinue. Like their ability to dispense airtime relatively
cheaply, operators are able to exploit the SMS
channel to cheaply deliver messages to customers.
The character limitation of this medium makes it
less effective for the early stages of marketing, but
Recharge and
win promo
Customers receive
SMS comes into its own as a retention tool. This is
because operators can draw on customer data and
5% bonus
Agents receive
5% ongoing
revenue
transactional histories associated with a particular
line to deliver highly targeted messages to certain
customers. For example:
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
 Customers who send money to unregistered

Because operators can offer airtime to customers customers receive a message after completing
at essentially no marginal cost, it is a particularly the transfer reminding them that they could save
cheap “currency” to use in customer promotions money on transaction fees by encouraging the
and therefore popular as a giveaway when driving recipient to sign up for the service. This could be
adoption of mobile money. combined with a promotion offering the customer
a referral bonus for signing up the recipient.
Targeted Promotions in the Philippines
 Senders and recipients of an operator’s airtime
To increase usage of SMART Money in the Philippines,
transfer functionality receive a message touting the
SMART has experimented with giving bonuses, in the
benefits of using mobile money instead – which,
form or either airtime or free SMSs, to customers when
again, could be combined with a promotion to
they transfer money. Such bonuses are given only during
incentivize migration to mobile money.
26
Budget and Effectiveness  a major above-the-line marketing campaign focused

on communicating the functional benefits of using
Establishing a Budget M-PESA
One of the biggest headaches that operators face is
 a retraining campaign for agents, designed to improve
establishing a marketing budget for their mobile
their capacity to serve as ambassadors for M-PESA
money campaigns. Benchmarks are challenging to
find, since every country, service, and target market is  a dramatic increase in the resources allocated to field
different, and each of these variables affects required marketing
spend. That having been said, those mobile money
deployments that currently enjoy momentum in
Is it possible to spend too much on marketing mobile
growth of active users have generally invested in a
money? Of course. The cost of acquiring a customer –
multi-million-US-dollar advertising campaign.
or, in the case of mobile money, the cost of activating
a customer – should not exceed the lifetime value of
Like mobile services, money transfer services are
that customer, which is defined as the present value
characterized by strong network effects, which means
of the revenues (less direct costs) that that customer
that the value of registering for the mobile money
is likely to generate. The lifetime value of a customer
platform increases as the number of other registered
can be estimated by working out the revenues that
customers increases – just as the value of owning a
an average customer is likely to generate in a year,
phone increases as the number of other people with
deducting the commissions that will have to be paid
phones increases. This makes it hard to convince early
to agents to facilitate those transactions, and then
adopters of mobile money to sign up, since they will
multiplying that number by five.11 The resulting
have a small number of transaction partners. This has
figure can be thought of as a marketing budget: the
two implications for marketing mobile money. First,
upper bound on what an operator should be willing
a large investment in marketing sends a signal to
to spend to activate a single customer.
potential users of commitment: this service is here
to stay, and so you can count on more and more
Analysing the Cost of Activation in Uganda
people joining the network in the future. Second,
Between March 2009, when MobileMoney was launched,
making a big splash in a shorter time period makes
and June 2010, MTN Uganda spent approximately
more sense than investing the same amount of
US$700,000 on direct marketing expenses. During this
money into a longer, lower intensity campaign. This
time, it registered 973,000 customers, of which 371,000
is an axiom in marketing that is even more important
were active at the end of the period.
when network effects are at play because the goal is
to bring lots of customers onto the platform in a short
The ROI for MTN’s marketing spend increased over time.
period of time, minimizing the period during which
As customers started to tell each other about the service
the small number of registered users makes joining
and network effects started to kick in, MTN needed to
seems relatively unattractive to everyone else.
spend less and less in order to drive customer adoption. In
the month it launched, for example, MTN spent a little less
Raising Awareness in Tanzania
than $10 on above-the-line marketing for each new active
It is easy to underestimate the investment that is necessary
customer it gained; fourteen months later, that figured
to raise awareness of a mobile money service. Vodacom
had dropped to approximately $0.10.
Tanzania launched M-PESA in April 2008 and invested
over US$5 million in marketing and agent acquisition over
In markets where the concept of mobile money is
the course of the subsequent 25 months. Yet a telephone
already understood, new mobile money deployments
survey conducted in February 2010 revealed that just
may be able to spend less, because some of awareness
20% of Vodacom customers were aware of what M-PESA
building and customer education has already been
does and how to use it.
done. In these cases, the marketing challenge is to
persuade users that one mobile money service is
Vodacom is confronting these low levels of awareness
better than another, rather than having to start by
with a three-pronged initiative:
explaining what mobile money is.
11
T his rule of thumb values the stream of after-commission revenues from a customer as a growing perpetuity, and assumes that the operator’s discount
rate minus the growth rate of the annual after-commission revenues equals 20%. 27
Measuring Effectiveness By administering a survey to a sample of potential

Operators typically measure success on three customers in the target market, operators ascertain
levels. At the highest level, they try and answer the how far along customers have come, and where
question of the overall success of the mobile money they have gotten stuck. This is a somewhat costly
program. They then look back at the customer approach, but does provide operators with a clear
journey, to identify if customers are losing their indication of how to retool their marketing mix in
way from awareness to regular use. And at the most order to better reach nonusers. A simplified version
granular level, they measure the effectiveness of each of this approach is described “Diagnosing Customer
marketing tactic utilized. Activation Issues” (p. 29).
High-level Measures of Success Awareness of MTN MobileMoney in Ghana

In the early days of mobile money, the number of MTN launched MobileMoney in Ghana in July 2009. It
customers registered for a mobile money platform invested heavily in TV and radio advertisements (including
was the most commonly used metric for evaluating spots on local-language radio stations) to good effect: a
success. Today, however, it is more common to survey commissioned by MTN in 2010 revealed that 88%
hear operators refer to the number of active users, of MTN subscribers were aware of MobileMoney. But
which is typically defined as a user that has initiated usage rates were low, and the survey revealed why: fewer
a value-movement transaction in the last 30, 60, or 90 than 40% of respondents knew what the platform could
days. (Operators decide how long of a period to use be used for and how to use it.
by assessing what a regular use pattern would look
like for customers in their target market.) In response, MTN Ghana made two changes to its marketing
mix. First, it retooled its above-the-line advertising to
The number of active users is one of the stress the functional aspects of MobileMoney. Second, it
key performance indicators reported in invested in a major customer-education campaign, relying
the mobile money dashboard, a tool that is primarily on front-line MobileMoney representatives,
available for mobile operators to use and including agents, to teach customers about the platform
customize. It is available upon request by and how to use it.
e-mailing mmu@gsm.org.
Evaluating Tactics
It can be even more meaningful to put the number of Finally, at the most granular level, operators measure
active mobile money users in context. Dividing the the effectiveness of specific marketing tactics. For
number of active mobile money users by the number example, if customer promotions were utilized, one
of the operator’s mobile connections gives a sense can measure their effectiveness by calculating the
of the mobile money penetration within the broader total cost, the number of customer activations, and
subscriber base. the number of customers that remained active after a
given period of time. The effectiveness of marketing
A different tack is to measure success in terms of campaigns targeted at certain geographical areas
market share. This is an easy calculation to do for can be measured by monitoring agents’ transaction
bill payments – simply divide the number of bills levels in the target area. This type of analysis is a
paid using mobile money by the total number of bills worthwhile exercise because it provides direct input
paid in a given period (a figure which the biller can to the optimum marketing mix; unfortunately, it is
provide). However, it is much more challenging to easier to measure the effectiveness of some tactics
analyze money transfer market share since direct than others.
and indirect competitors will not all reveal their
transaction volumes regularly.
Tracking Customers’ Progression on the Journey to Regular Use

Metrics that measure the number of active users are
less helpful when diagnosing low levels of customer
adoption. That’s because they reveal nothing about
where customers have gotten stuck in the journey
toward regular use.
28
Supplement: Diagnosing Customer Activation Issues
Mobile money deployments hit a number of challenges as they try and bring the customer along the journey
from awareness to regular use. The following diagnostic highlights the main challenges operators face and
indicates possible causes.
Challenges with Building Awareness and Understanding

In a number of markets, operators have faced problems with low levels of customer awareness. This at times is
a complete lack of awareness from the consumer, in the sense that they have never heard of the programme. Or
they have heard about the mobile money service but they do not understand what it could be useful for. In both
cases, these problems are apparent through market research with the target market.
Possible causes Diagnostic tools Corrective actions Reference section(s)
Wrong marketing mix for Analyse the audience of media Redirect marketing spend to Segmentation (p. 7)
campaign employed: are marketing reach the target audience
communications reaching the target Marketing Communications
market? (p. 14)
Customers don’t understand Elicit customer feedback on marketing Revisit marketing Positioning (p. 13)
why they should try mobile communications: is the product’s communications to clarify
money / Communications functionality and positioning clearly messaging Marketing Communications
messages are unclear communicated? Does it resonate with (p. 14)
the target market?
Insufficient budget for If neither of the two culprits above Invest more aggressively in Budget and Effectiveness
marketing apply, insufficient budget is likely the marketing communications (p. 27)
problem

Barriers to Trial, including Education and Registration

If market research indicates that customers in the target market are aware of the service and understand how
it is beneficial to them, but still do not sign up for the service, there are a number of possible issues around
registration and trial to explore.
Customers don’t understand Mystery shop at agents: do they explain Employ more marketing Educating and Activating
how to perform a to users how to transact? tactics to educate Customers (p. 19)
transaction consumers through field or
transactional agents
Customers struggle to find a  Seek customer feedback: have they Optimise the number and Transactional Agents (p. 20)
registration agent tried to register, but could not find location of registration
an agent? agents
 Analyse the geographic distribution
and density of registration agents:
are they situated where customers in
the target market live or work?
Mobile money does not  Analyse the competition: in what Revisit customer segments Competitive Analysis (p. 5)
meet the needs of customers ways is mobile money better than to identify the target market
better than existing alternatives? with the most potential for Segmentation (p. 7)
alternatives  Seek customer feedback: what do mobile money
customers value about competitors’
products over mobile money?
29
Customers don’t trust the Seek customer feedback: how do Branding (p. 18)
operator’s brand or its customers perceive the operator’s
network brand?
Onerous process for user  Seek customer feedback: have they Streamline customer
registration tried to register, but been deterred by registration process –
onerous requirements? engaging the regulatory
 Benchmark the registration process authorities if necessary
with good practice globally: is KYC
proportionate?
 Assess the availability of required
documentation (i.e., IDs) among the
target market: is this a constraint?
Agents find registering  Mystery shop at agents: are they Analyse the agent value Transactional Agents (p. 20)
customers is more profitable promoting the service? proposition and revamp
than transacting with them  Seek customer feedback: are agents commissions if necessary
– so they only do the former taking the time to show them how
to transact?
 Analyse the agent value proposition:
are their incentives skewed toward
registration rather than transactions?
 Review agent e-money float
balances: are agents able to facilitate
cash-in transactions?
There is a waiting period Benchmark the registration process with Streamline customer
between registration and good practice globally: can customers registration process –
account activation, during begin to transact immediately? engaging the regulatory
which customers cannot authorities if necessary
transact
Different agents are Seek feedback from customers Revamp the registration Transactional Agents (p. 20)
responsible for registration registered by registration agents: were agent commission model
and cash-in/cash-out they directed to a transactional agent? to make commissions
transactions Are they likely users of the service? contingent on customers’
transactions
30
Barriers to Regular Use

Finally, if the operator’s database is showing that users are trying the service once and not transacting again,
there are a number of possible issues that may be curbing regular use.
Customers are having  Seek customer feedback: do they  Analyse the agent value Transactional Agents (p. 20)
unsatisfactory experiences at struggle to locate liquid agents? proposition and revamp
the retail level  Mystery shop at agents: are they the commission model if
 Agents are illiquid or liquid in cash? necessary
“too busy” to serve  Review agent e-money float  Optimise the customer/
customers balances: are they liquid in e-money? agent balance, at the
local and system level
 Agents are insufficiently Mystery shop at agents: do agents Assess the effectiveness of Transactional Agents (p. 20)
trained demonstrate mastery of the service and agent training, monitoring,
competently explain the service and and disciplinary procedures
how it works to potential users?
 Agents are scarce Analyse the geographic distribution Optimise the customer/agent Transactional Agents (p. 20)
and density of agents: are they situated balance, at the local and
where customers in the target market system level
live or work?
 Agents are unclearly Review store branding guidelines and Revamp agent branding/ Transactional Agents (p. 20)
branded/differentiated compliance: are mobile money agents merchandising guidelines/
from ordinary airtime clearly marked? requirements
retailers
 Agents are defrauding Seek customer feedback: have they been Assess the effectiveness of, Transactional Agents (p. 20)
customers defrauded? and revamp if necessary,
agent training, monitoring,
and disciplinary procedures
Customers are having Seek customer feedback: did customer Improve existing customer
unsatisfactory experiences care resolve their issue in a timely way? service and/or launch
with customer care dedicated mobile money
customer service scheme
Customers are having Seek customer feedback: do they find Improve the user interface
unsatisfactory experiences the user interface intuitive? based on feedback
with the user interface
31
For further information please contact
mmu@gsm.org
GSMA London Ofﬁce
T +44 (0) 20 7356 0600

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Driving Customer Usage of Mobile Money for the Unbanked

Authors: Neil Davidson and M. Yasmina McCarty

The Customer Journey 3

Supplement: Diagnosing Customer Activation Issues 29

Advertising Field agents

Unaware Awareness Understanding Knowledge Trial Regular Use

The Customer Journey

Unaware Awareness Understanding Knowledge Trial Regular Use

Customer Customer has Customer Customer knows Customer tries Customer

Marketing Airtime vs. Marketing Mobile Money

In most developing markets, awareness of mobile

The Role of Trust in the Mobile Money Customer’s

Competitive Landscaping Identifying Relevant Competitors

Competitive Analysis at True Money  Remittance companies

 Sending money using regional buses. This could be

Segmentation Segmentation is never undertaken as an end to itself;

Money Transfer in Tanzania

 Family members sending gifts / support to other

Tigo Ghana’s Pre-launch Market Research Understanding Segments

Observed behaviour Implied preference

Understanding Customer Preferences in Thailand Socioeconomic and Demographic Characteristics

Attitudes Target Market Selection

The positioning statement defines the main benefit of

For urban migrant workers who need a safe

Positioning statements are not communicated

Obviously, the primary benefit that is articulated in

Building Awareness and Understanding

Unaware Awareness Understanding Knowledge Trial Regular Use

Customer Customer has Customer Customer knows Customer tries Customer

savvy operators provide in-depth agency briefs to

Campaigns that omit any of these messages tend

The Evolution of Marketing the Easypaisa Mobile

A number of operators are reticent to speak to just one

However, customer adoption of the mobile wallet was

As such, while streamlining the registration process,

 Safaricom green is the backdrop for the

 The ribbon of shilling notes makes concrete

 The advertisement appeals as much to money

 The call to action is clear and extremely

 The sender is depicted as relatively prosperous,

Safaricom invested so heavily in the send money

Safaricom executives note these advertisements would have been

Sub-branding by Grameenphone in Bangladesh

Educating and Activating Customers

Unaware Awareness Understanding Knowledge Trial Regular Use

Customer Customer has Customer Customer knows Customer tries Customer

Customer Activation in Tanzania For more on agent training, incentives, and

Transactional Agents Agent Branding in Kenya, Bangladesh, and

 Incentives – Explaining to consumers how to use

Grameenphone distinguishes BillPay agents from regular Field Agents

This tactic of “feet-on-the-street” is popular not

The key advantage of field agents when compared to

The critical success factor for this tactic is the

If the sourcing of field agents is outsourced to a

Barriers to Customer Adoption in Uganda

Registered Customers Active Customers

Event Marketing people’s identities with an official letter, to be present,

Encouraging Regular Use

Unaware Awareness Understanding Knowledge Trial Regular Use

Customer Customer has Customer Customer knows Customer tries Customer

Customer care plays a pivotal role in keeping

In “Diagnosing Customer Activation Issues” (p. 29),

Competitive Analysis at True Money  Remittance companies

 Sending money using regional buses. This could be

 Family members sending gifts / support to other

 Safaricom green is the backdrop for the

 The ribbon of shilling notes makes concrete

 The advertisement appeals as much to money

 The call to action is clear and extremely

 The sender is depicted as relatively prosperous,

 Incentives – Explaining to consumers how to use

 Customers who send money to unregistered

Budget and Effectiveness  a major above-the-line marketing campaign focused